Mithras Inv.Tst Share Discussion Threads

[skyship] 04/3/2015 15:57

The Prelims came out at 18:00 last night - a very strange time!

Good to see the NAV up again - now at 162.1p.

Also liked this extract:
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"Update on the Realisation Strategy

The Board remains committed to returning cash to shareholders. Given the strong net cash position as at 31 December 2014 and a promising pipeline of potential portfolio company realisations, the Board is confident of announcing a further tender offer during 2015.

In conjunction with its advisers, the Board recently conducted a review of the realisation strategy with a particular focus on how and when to achieve a full exit for shareholders. The Board concluded that the current strategy of returning cash to shareholders by way of further tender offers at close to NAV remains the best way to deliver maximum value to shareholders in the immediate future. Although the Company has completed three tender offers to date, it is still quite early in the overall realisation process. Shareholders still have exposure to a diversified portfolio of 64 underlying companies."

I suspect we could well see an Autumn Tender this year; perhaps even at a higher price - something in the region of 165p-170p. That would be 15% higher than the current offer price of 143.5p - so I've made a small top-up today.

[skyship] 18/2/2015 14:08

The Prelims are not far away - 5th March last year.

[skyship] 19/12/2014 16:54

WOW - 43.7% was what I was left with; successful with 56.3%!

[glynnef] 16/12/2014 18:15

Not quite such a good result via IDealing.com. Looks like the have sold 23.5% of my holding which is still very satisfactory.

[skyship] 16/12/2014 08:11

Hmm - Sippdeal have split my MTH holding into two parts; suggesting a Tender success level of 43.7%. Would certainly be happy with that!

[skyship] 12/12/2014 15:12

So, 15.5% plus, if I read/calculate it correctly, another 0.5% excess - so 16%. That 16% may rise to a greater figure with individual brokers depending upon the degree of tender acceptances within their nominee accounts.

[pvb] 12/12/2014 14:37

Cheques to be dispatched by Friday 19 December:

[skyship] 05/11/2014 18:01

Excellent - a 15.5% Tender @ 154.7p. I would hope to get c20% away at that price.

[pvb] 05/11/2014 14:49

Tender Offer:


Interim Statement:

[jaws6] 05/11/2014 14:26

RNS on tender offer

[skyship] 22/10/2014 17:39

MITHRAS INVESTMENT TRUST PLC (the "Company")

Net Asset Value

As at close of business on 30 September 2014, the unaudited Net Asset Value per Ordinary 2p share of the Company was 157.0 pence.

[skyship] 16/10/2014 16:57

We are likely to see the next tender in Nov/Dec. The 30th ~June NAV was 153.4p.

A few small sellers had taken them down over the past week, so more than happy to pick up a few at 132p today.

Extract from the Interims to 30/06/14 - RNS dated 30/07/14:
Given the maturity profile of the portfolio, which has an average hold period of 4.1 years, there are several exit opportunities from within the portfolio which we would expect to complete in the coming months. These further cash distributions coupled with the Company's strong balance sheet and current cash position mean that we anticipate making further progress with the realisation strategy by being in a position to announce the third tender offer to shareholders before the end of 2014.

[pvb] 16/8/2014 12:19

Half yearly - with promise of further tender offer to be announced later in the year:

[skyship] 09/5/2014 17:55

pvb - good find - thanks.

RAM - you said just over 2yrs ago we should see 200p here - looks to be on track!

[rambutan2] 08/5/2014 14:59

Thanks pvb, potentially there is good growth to come from many of the 67 port cos over the next few years, which when harvested should flow back plenty of cash to shareholders. I remain a strong holder.

[jaws6] 08/5/2014 14:47

pvb
Thanks .good link

[skyship] 28/4/2014 13:52

Ah - thnx for that - so the portfolio likely to be intact, growing and building for another sale and tender later in the year...

[horndean eagle] 28/4/2014 13:39

Down to FX movements mainly. Euro weakening against sterling.

[skyship] 28/4/2014 11:21

Yes - a small reduction in the NAV from the previous 160.4p:

===========================================================
28 April 2014

MITHRAS INVESTMENT TRUST PLC (the "Company")

Net Asset Value

As at close of business on 31 March 2014, the unaudited Net Asset Value per Ordinary 2p share of the Company was 158.1 pence.
===========================================================

[jaws6] 28/4/2014 10:04

NAV 158 RNS out

[rambutan2] 06/3/2014 19:15

Yes, everyone holding on for the ride.

Worth noting that over a third of investments have been made from 2011 onwards (see chart in annual report) so will likely need a few years to mature, but of course will grow nav. As long as board and shareholders prepared to be patient then I'd be surprised if we didn't get quite a few good harvests before winding up in say 4-5yrs time.

[jaws6] 06/3/2014 10:21

Tried to add and no luck.

[jaws6] 06/3/2014 08:18

rambutan
yes ,looks good.

[rambutan2] 06/3/2014 00:57

Y/E nav of 160p, and all seems to be progressing nicely. Annual report link below...